Import of cars

VMS 2018 wraps up with hundreds of cars soldBy Hung Le Visitors look at a Mercedes car on display at VMS 2018, held in HCMC last week - PHOTO: HUNG LE HCMC – Vietnam Motor Show 2018 (VMS 2018) has wrapped up with positive signals for car makers as many visitors signed contracts to buy hundreds of cars at the event. The five-day exhibition, held at the Saigon Exhibition and Conference Center in HCMC’s District 7, witnessed as many as 880 cars being ordered or sold. The event oganizer stated that this was a good sign as car sales year-to-date have not been as high as in the same period last year. Through VMS 2018, it is possible to gauge the interest of consumers in cars in particular, and in the automotive industry of Vietnam in general, opening up the prospect of a bustling shopping season at the year-end. In addition, these signs indicate the commitment of major global car brands operating in Vietnam to develop the automobile market and promote its growth. VMS … [Read more...] about VMS 2018 wraps up with hundreds of cars sold

Billions of dollars worth of car parts exported but not from Vietnamese manufacturers VietNamNet Bridge - Vietnam spends billions of dollars to import car parts each year for domestic assembling, but it also exports billions of dollars worth of vehicle parts. However, the exporters are mostly from foreign invested enterprises (FIEs). Vietnam needs to import car parts for domestic assembling Toyota Vietnam reported that it exported $34 million worth of car parts in the first half of the year, an increase of 13 percent compared with the same period last year. A report of the General Department of Customs (GDC) showed that the export turnover of transport vehicles and spare parts in 2017 nearly reached the $7 billion threshold, an increase of 15.4 percent over the year before. A report of the General Department of Customs (GDC) showed that the export turnover of transport vehicles and spare parts in 2017 nearly reached the $7 billion threshold, an increase of 15.4 … [Read more...] about Billions of dollars worth of car parts exported but not from Vietnamese manufacturers

Viet Nam needs to develop its own automobile industry, create favourable import conditions and ensure production for more than 90 million people. This was said by Mai Tien Dung, minister and chairman of the Government Office, at a conference in Ha Noi on Monday. The conference was held to discuss and listen to the feedback of auto businesses related to difficulties in implementing the Government’s Decree 116/2017/ND-CP on automobiles and the transport ministry’s guiding Circular 03/2018/TT-BGTV. Decree 116 stipulates the conditions for production, assembly, import and business of automobile warranty and maintenance services, issued on October 17 last year. After the issuance, many companies, such as Honda and Toyota, have stopped importing cars into Viet Nam. Ford, Nissan and Mitsubishi also announced a halt on import. By early 2018, the Ministry of Transport issued Circular 03 to guide the implementation of Decree 116. Although it is expected to “unravel” the … [Read more...] about Car companies voice concern over Decree 116

Russian-made cars lead the imported vehicles in Vietnam; next by China and the US. The drastic drop of imported cars this time resulted from regulations to tighten the condition of imported vehicles lately. However, price of imported cars in the Southeast Asian country escalated compared same period last year. French cars is the most expensive, a year-on-year rise of 96 percent while Japanese-made car also rose by 270 percent. The cheapest imported cars including those from South Korea also saw an increase of 63 percent and Thailand with 73.6 percent, except Chinese which has a fall of 31.8 percent. Lately, there has been no sign that price will fall plus shortage of favorite kinds. However, there isn’t wait-to-see attitude amongst clients any longer; instead, people choose ones at suitable price to meet their demand of traveling. The Ministry said generally, in first two months of 2018, exports to China climbed by 50.6 percent compared to same period last year earning $5.67 … [Read more...] about Prices of cars still remains high because of reduction of import

Honda Vietnam is the first firm to import cars according to the Government Decree 116. — Photo soha.vn The import of automobiles surged suddenly early this month, according to the General Department of Customs (GDC). Statistics provided by the GDC showed that from March 2 to March 8, auto businesses registered to import 2,020 cars of all kinds to Viet Nam, having a total value of US$44.42 million, most of which were cars with nine seats or less. No cars with nine seats or more were imported. Most of the imported cars came from Thailand, the remaining from Japan, the United States and the United Kingdom. The vehicles were shipped through Hai Phong and Sai Gon ports. This has been a surprise for the car market in Viet Nam after the number of vehicles imported was at a record low in the first two months of this year. Specifically, cars having less than nine seats only reached 18 units in January and 13 units in February, as auto importers failed to meet the demand of the … [Read more...] about Auto import surges suddenly early March

A new decree issued by Vietnam designed to protect its own developing automotive industry does not comply with international rules, hindering the import of cars into Vietnam, said Toru Kinoshita, chairman of the Vietnam Automobile Manufacturers Association (VAMA) and CEO of Toyota Vietnam. The decree, which took effect on January 1, stipulates that traders are only permitted to import automobiles if they can provide valid vehicle registration certificates issued by authorities from the countries of origin. Original quality control certificates for each vehicle and letters of authorization regarding recalls of defective vehicles from the manufacturers are also required, along with copies of quality assurance certificates provided by the countries of origin. The decree also requires importers to have one car from each batch shipped to Vietnam to go through emissions and safety tests. Under the previous regulation, only one certificate was required for each model of car, … [Read more...] about Local, foreign enterprises in fierce debate over Vietnam’s new car import regulations

Only 337 cars of all kinds were shipped to the country, according to data of the General Department of Customs. Of the imports, there were only 17 passenger cars with nine seats or less, amounting to 567,000 USD. Notably, no cars were imported from Indonesia and India. Photo for illustration only In 2017, Indonesia was among the top countries after Thailand with the highest number of exported cars to Vietnam. India too had a relatively large number of exported vehicles in 2016. However, in January this year, both the countries did not export any car to Vietnam. Meanwhile, Thailand lost its recognition as the largest import car market in Vietnam, with only 36 vehicles exported to the country since the beginning of the year. Among the automobile export markets to Vietnam in January 2018, Russia suddenly rose to the top, with 159 vehicles being exported, worth 274 billion VND (12.03 million USD), equivalent to 1.7 billion VND each. Under a deal on autos signed between … [Read more...] about Auto imports drop following government’s new decree

Deputy Prime Minister Vuong Dinh Hue has asked ministries to strengthen the management of temporary import of cars of individuals who enjoy privileges and tax exemptions in Vietnam.According to the General Department of Customs, in addition to the import of cars through commercial orders of domestic businesses, there are thousands of cars that are annually imported under privileges and exemptions by embassies, foreign diplomatic missions and international agencies or organisations operating in Vietnam.Hue’s request was sent out to the ministries of Foreign Affairs, Public Security and Transport.He asked the ministries to strictly penalise the abusive action of importing cars for commercial purposes and propose amendments and supplements to current regulations to enhance State management and compliance with real requirements.Currently, imported vehicles under privileges and exemptions are provided with a foreign number plate and are exempted from taxes and fees. These vehicles are … [Read more...] about Government tightens diplomatic car imports

Deputy Prime Minister Vuong Dinh Hue has asked ministries to strengthen the management of temporary import of cars of individuals who enjoy privileges and tax exemptions in Viet Nam.— Photo dantri.com.vn Deputy Prime Minister Vuong Dinh Hue has asked ministries to strengthen the management of temporary import of cars of individuals who enjoy privileges and tax exemptions in Viet Nam. According to the General Department of Customs, in addition to the import of cars through commercial orders of domestic businesses, there are thousands of cars that are annually imported under privileges and exemptions by embassies, foreign diplomatic missions and international agencies or organisations operating in Viet Nam. Hue’s request was sent out to the ministries of Foreign Affairs, Public Security and Transport. He asked the ministries to strictly penalise the abusive action of importing cars for commercial purposes and propose amendments and supplements to current regulations to … [Read more...] about Gov’t tightens diplomatic car imports

Circular 03/2018/TT-BGTVT is a legal document under the Government’s Decree 116, which came into effect on January 1, 2018. It aims to clarify regulations of the decree, helping importers implement procedures when they import autos to the Vietnamese market.The circular states that auto importers must obtain a Vehicle Type Approval (VTA) certification issued by authorities in the exporting country. VTA certifications are to show the vehicles’ standards on quality, technical safety and environment protection. If this cannot be obtained, a separate certificate of quality, technical safety and environment protection of the auto or engine must be provided.In addition to this, while examining the quality of technical safety and environmental protection, auto importers will have to submit a number of dossiers, such as registration certificate of the imported cars for inspection of technical safety and security and protection of the environment; certified copies of the type of … [Read more...] about Ministry clarifies decree on imported autos